This morning, once the first reports started coming in: 189.
Now, 11:01 a.m.: 186.
| 11/3/2014 | 11/03/2013 | 11/03/2012 | 11/03/2011 | 11/03/2010 | |
|---|---|---|---|---|---|
| Active Rigs | 186 | 181 | 188 | 194 | 152 |
Perhaps too early to say, but I enjoyed the comment last week from a reader suggesting that rig counts won't drop this fast because of outstanding contracts and CAPEX set in place some time ago. I agree. I think decisions were made some months ago. EOG appears to have pretty much stopped drilling in the Bakken several months ago, before the slump in oil prices. The question is how much of this has to do with the slump in oil prices and how much has to do with quite a few other factors, previously posted.
Before you all get too excited, 186 is about normal for this time of year, it appears. Several readers have suggested that the "193" was artificially high due to late reports (or non-reports) coming in to the NDIC.
